NI announces CEO transition plan
NI has announced that its Board of Directors has elected Alex Davern, age 49, to serve as Chief Executive Officer and President of National Instruments, effective January 1, 2017. Davern will succeed Dr. James Truchard, age 73, who has served as the Chief Executive Officer of NI since the company’s founding in 1976. Dr. Truchard will remain as Chairman of the Board. The Board of Directors plans to appoint Mr. Davern to the Board by the end of January 2017. This transition is being undertaken as part of the Board’s succession planning process.
“It has always been my goal for NI to be a company built to last,” said Dr. James Truchard, CEO and co-founder. “Over the last decade, in the face of a weak industrial economy I have focused my efforts on helping to ensure that we were making the long-term strategic investments necessary to set NI up for future growth. I believe these major platform investments, in key areas like PXI modular instrumentation, RF measurements, CompactRIO, and our entire software platform, will continue providing NI with disruptive platform capabilities needed to expand our long-term market opportunity. Given our significant progress, much of which was showcased at NIWeek earlier this month, I believe NI is well-positioned for the coming decade.”
Truchard continues, “It is the right time for me to retire as CEO. I have worked with Alex Davern for more than 20 years. He is an exceptional leader and business strategist, with a demonstrated track record of success. I have complete confidence in Alex and the rest of the senior leadership team at NI to continue delivering on our consistent track record of innovation, growth and profitability.”
“Countless entrepreneurs have great ideas and start companies, but very few have accomplished what Jim has – from moonlighting out of our garage and kitchen in 1976, to self-funding the business, to a successful IPO in 1995, to the $1B+ revenue company we are today with over 7,000 employees around the globe,” said Jeff Kodosky, NI co-founder, Fellow and Board member.
